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Investors are pricing the ECB deposit rate to rise to 3.75% by September from 2.5%, matching the 2001 peak. The move follows resilient eurozone services activity and wage demands, with ECB president Lagarde watching negotiated wages closely.
Expectations of higher euro rates tend to support the euro and can firm the currency against the dollar, a mild headwind for dollar-priced commodities.
ft.comMartin Arnold in FrankfurtFeb 22, 2023After 388 past bullish macro events, Euro (USD per EUR) moved a median +0.3% over 5 sessions (62% higher; middle half -0.4% to +1.1%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
